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| June 13, 2008 | Friday | Jamadi-us-Sani 08, 1429 |
Opec rules out output hike
ALGIERS, June 12: Opec’s president Chakib Khelil, the energy minister of Algeria, on Thursday ruled out an increase in production by the oil exporting group despite record crude prices.
Khelil said Opec “excludes resorting to an increase in production because at the moment supply is bigger than demand and there is over-production estimated at 500,000 barrels per day.”—AFP
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